NeOnc raises $15M in registered direct offering to fund CNS cancer trials
What's the deal? NeOnc Technologies (Nasdaq: NTHI) has priced a $15 million registered direct offering, selling roughly 3.57 million shares (or pre-funded warrants) plus accompanying warrants at $4.20 per share under Nasdaq's at-the-market rules. New and existing healthcare-focused institutional investors bought in, and the offering is expected to close on or about September 10, 2026.
What's the endgame? The Calabasas, California company is a clinical-stage biopharmaceutical developer working on therapies for central nervous system cancers. Its NEO drug platform targets the blood-brain barrier, with lead candidates NEO100 and NEO212 in Phase 2 trials under FDA Fast-Track and Investigational New Drug status.
The details: Each warrant is immediately exercisable at $4.20 and expires five years from issuance; pre-funded warrants carry an exercise price of $0.0001. Roth Capital PartnersDealroom has a profile for this one. Try Dealroom → and A.G.P./Alliance Global PartnersDealroom has a profile for this one. Try Dealroom → acted as co-placement agents. Gross proceeds of about $15 million come before fees and expenses.
Why now? The raise draws on a shelf registration statement that became effective on April 9, 2026, giving NeOnc a ready path to tap institutional capital as its trials advance.
The signal: For a small-cap biotech burning cash through multiple Phase 2 programs, a $15 million at-the-market placement backed by existing investors is a bet on continuity — capital to keep the pipeline moving rather than a strategic pivot.
Read more: Business Insider
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